HMRC announced in December that they were launching a campaign targeting solicitors who have not declared all their earnings.
The Solicitors’ Tax Campaign (STC) means that both individuals and their firms will be under scrutiny.
To take advantage of the lower penalties available under the STC you would need to:
- Notify the Revenue by 9 March 2015
- Complete and file a disclosure form and pay the tax you owe by 9 June 2015
HMRC has confirmed those who do not come forward before the deadline could face a 100% penalty and criminal charges.
If you would like more information or would like or assistance in making a disclosure please give Sue Stephens a call to discuss further.